Revolving Credit Commitment Increase. (a) Each Revolving Credit Lender who agrees to increase its Revolving Credit Commitments in connection with this Amendment (an “Upsizing Revolving Credit Lender”) hereby severally, but not jointly, agrees to provide Revolving Credit Commitments in an aggregate principal amount equal to $100,000,000 (the “Upsized Revolving Credit Commitments”) for a Revolving Credit Commitment increase (the “Revolving Credit Commitment Increase”) so that, effective as of the Amendment Effective Date, its Revolving Credit Commitments under the Revolving Credit Facility shall be as set forth on Schedule 2.01 to the Amended Credit Agreement.
(b) As of the Amendment Effective Date, after giving effect to the incurrence of the Upsized Revolving Credit Commitments, the aggregate principal amount of the Revolving Credit Commitments pursuant to the Amended Credit Agreement shall be $500,000,000. For the avoidance of doubt, the Upsized Revolving Credit Commitments are not being incurred as Incremental Revolving Commitments pursuant to Section 2.14 of the Amended Credit Agreement.
(c) The Administrative Agent will take those steps which it deems, in its sole discretion and in consultation with the Borrowers, necessary and appropriate to cause each Revolving Credit Lender (including the Upsizing Revolving Credit Lenders) to hold outstanding Revolving Credit Loans and participation - 7- interests in outstanding Letters of Credit and Swing Line Loans ratably based on its pro rata share under the Revolving Credit Facility immediately after giving effect to the Revolving Credit Commitment Increase.
(d) Each Revolving Credit Lender immediately prior to the Revolving Credit Commitment Increase will automatically and without further act be deemed to have assigned to each existing Revolving Credit Lender and each Upsized Revolving Credit Lender, and each Upsized Revolving Credit Lender will automatically and without further act be deemed to have assumed a portion of such Revolving Credit Lender’s participation interests under the Amended Credit Agreement in outstanding Letters of Credit and Swing Line Loans.
Revolving Credit Commitment Increase. (a) Each Joining Lender shall, with effect from the Effective Date, become a party to the Credit Agreement as a Revolving Credit Lender with a Revolving Credit Commitment set forth opposite such Joining Lender’s name on Schedule 1.01(a) hereto, and each other Additional Lender shall, with effect from the Effective Date, have a Revolving Credit Commitment set forth opposite such other Additional Lender’s name on Schedule 1.01(a) hereto, in each case as such Revolving Credit Commitment may thereafter be changed from time to time pursuant to the terms of the Credit Agreement. Each Joining Lender shall, with effect from the Effective Date, have the rights and obligations of a Revolving Credit Lender under the Credit Agreement and the other Credit Documents.
(b) The last sentence of the definition of “Total Revolving Credit Commitment” in Section 1.01 of the Credit Agreement is amended and restated in its entirety to read as follows: The aggregate amount of the Total Revolving Credit Commitments as of July 17, 2012 is $90,000,000.
(c) The first sentence of the second introductory paragraph of the Credit Agreement is amended by replacing the reference to “$45,000,000” with “$90,000,000”.
(d) Schedule 1.01(a) hereto sets forth each Revolving Credit Lender, and the Revolving Credit Commitment of each Revolving Credit Lender, after giving effect to the Revolving Credit Commitment Increase. The Revolving Credit Commitments of the Revolving Credit Lenders are several and not joint.
(e) Schedule 1.01(a) attached to the Credit Agreement is deleted and replaced with Schedule 1.01(a) hereto.
Revolving Credit Commitment Increase. (a) The Borrower and the Increasing Lender hereby agree that, subject to the satisfaction of the conditions in Section 6 hereof, on the Commitment Effective Date (as defined below), the Revolving Credit Commitment Increase of the Increasing Lender shall become effective and the Commitments shall be deemed increased by the amount of the Revolving Credit Commitment Increase of the Increasing Lender. Pursuant to Section 2.6 of the Credit Agreement, the Revolving Credit Commitment Increase shall be a Commitment for all purposes under the Credit Agreement and each of the other Loan Documents and shall have terms identical to the Commitments outstanding under the Credit Agreement immediately prior to the date hereof.
(b) The Increasing Lender acknowledges and agrees that upon the Commitment Effective Date, the Increasing Lender shall be a “Lender” under, and for all purposes of, the Credit Agreement and the other Loan Documents, and shall be subject to and bound by the terms thereof, and shall perform all the obligations of and shall have all rights of a Lender thereunder.
(c) Upon the Commitment Effective Date, Schedule 1.1 of the Credit Agreement will be amended and restated in its entirety by Schedule 1.1 hereto.
Revolving Credit Commitment Increase. Subject to the satisfaction of the conditions precedent set forth in Section 7 below, (a) each Specified Existing Lender hereby agrees that its Revolving Credit Commitment shall be increased by the amount specified on Exhibit A attached hereto with respect to such Specified Existing Lender and (b) each Specified New Lender hereby agrees provide a new Revolving Credit Commitment in the amount specified on Exhibit A attached hereto with respect to such Specified New Lender.
Revolving Credit Commitment Increase. (a) The Borrower may, from time to time after the Closing Date, request to increase the then effective aggregate amount of the Revolving Credit Commitments; provided that:
(i) the aggregate amount of all increases in the Revolving Credit Commitments pursuant to this Section 2.04 shall not exceed $50,000,000 and the aggregate amount of any requested increase shall be in a minimum amount of $10,000,000 (or such lower amount that represents all remaining availability pursuant to this Section 2.04);
(ii) the Borrower and the Guarantors shall execute and deliver such agreements, instruments and documents and take such other actions as may be reasonably requested by the Administrative Agent in connection with such increases and at the time of any such proposed increase;
(iii) (x) no Default or shall have occurred and be continuing or would occur after giving effect to such increase and the application of proceeds therefrom and (y) both immediately before and after giving effect to any such increase and the application of proceeds therefrom, the representations and warranties of each Loan Party set forth in the Loan Documents shall be true and correct in all material respects (or, if qualified by “materiality,” “Material Adverse Effect” or similar language, in all respects (after giving effect to such qualification)) on and as of the Closing Date; provided that, to the extent that such representations and warranties specifically refer to an earlier date, they shall be true and correct in all material respects (or in all respects, as the case may be) as of such earlier date;
(iv) the increased Revolving Credit Commitments and the Revolving Loans made pursuant thereto shall have the same terms and conditions as the then existing Revolving Credit Commitments and Revolving Loans;
(v) the Revolving Loans made pursuant to any Revolving Credit Increase thereto shall be secured by the Collateral on a pari passu basis with the other Revolving Loans, rank pari passu in right of payment with the other Revolving Loans, and be guaranteed to the same extent as the other Revolving Loans; and
(vi) this Section 2.04 shall supersede any provisions in Section 2.13 or 10.01 to the contrary.
(b) Any request under this Section 2.04 shall be submitted by the Borrower in writing to the Administrative Agent (which shall promptly forward copies to the
Revolving Credit Commitment Increase. On the terms and subject to the conditions set forth herein, from and after the Restatement Effective Date, each Incremental Lender hereby agrees to increase and make available their Revolving Credit Commitment’s in the amount set forth on Schedule I hereto to the Borrower in accordance with the Credit Agreement.
Revolving Credit Commitment Increase. Prior to the date hereof, the Borrower has proposed to increase the Revolving Credit Commitments to an aggregate amount of $75,000,000 pursuant to the provisions of Section 1.15 of the Credit Agreement. Certain of the Lenders have, pursuant to the provisions of said Section 1.15, elected to increase their respective Revolving Credit Commitments such that the Revolving Credit Commitments of the Lenders effective from and after the date hereof shall be: Hxxxxx Trust and Savings Bank $ 21,875,000.00 Bank of America, N.A. $ 21,875,000.00 Wxxxx Fargo Bank, National Association $ 15,625,000.00 Wachovia Bank, N.A. $ 15,625,000.00 In connection with such increase, the Borrower shall on the date hereof pay each Lender increasing its Revolving Credit Commitment a fee of 0.10% on the amount of such increase (the “Commitment Increase Fee”).
Revolving Credit Commitment Increase. Subject to the satisfaction of all conditions precedent to the effectiveness of this Amendment, each Committing Lender hereby commits to provide on the Amendment Effective Date, its portion of the Revolving Commitment Increase, which together with any Revolving Commitment of such Committing Lender immediately prior to this Amendment, is set forth for such Committing Lender on Schedule A attached hereto, on the terms and subject to the conditions set forth in this Amendment and the Credit Agreement.
Revolving Credit Commitment Increase. The Borrower confirms and agrees that (i) it has requested an increase in the Revolving Credit Commitments in the aggregate principal amount specified on Schedule A attached hereto (which amount shall not exceed $600,000,000 in the aggregate), from the Incremental Revolving Lenders (as defined below) pursuant to and on the terms set forth in Section 1.15 of the Credit Agreement, effective on the Amendment No. 4 Effective Date and (ii) this Amendment shall constitute an Increase Request EXHIBIT 10.1
Revolving Credit Commitment Increase. The Revolving Credit Commitment shall be increased from time to time as requested by Borrowers to an amount up to $25,000,000 in the aggregate; provided that such increments shall be in amounts not less than $2,500,000 each (each a "REVOLVING CREDIT COMMITMENT INCREMENT AMOUNT"), no Default or Event of Default shall have occurred and be continuing or would occur after giving effect to the same and Borrower Agent shall have provided Senior Lender with at least 10 Business Days prior written notice thereof.
1 of the aggregate amount of each Revolving Credit Commitment Increment Amount, without duplication, shall be due and payable on the effective date of such increase, including, without limitation, an amount equal to $50,000 which shall be due and payable by Borrowers to Senior Lender on or before the Closing Date with respect to the $5,000,000 increase to the Revolving Credit Commitment under this Agreement from such commitment as in effect under the First Amended Loan Agreement. If Borrowers' request, and Senior Lender consents to an increase in the Revolving Credit Commitment above $25,000,000, it shall be entitled to charge to the Borrower a service fee for processing and approving the increase in the Revolving Credit Commitment equal to 1.00% of the amount by which the Revolving Credit Commitment then in effect is increased, and/or adjust the Interest Rate.
